N.Y. EPT Law § 10-6.7
This is the official text of N.Y. EPT Law § 10-6.7, part of New York’s EPT Law — part of the compiled statutory law of New York, published by the state as "EPT Law." Browse the sections below, each linked to its official government source.
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Exercise by all donees; exceptions
Official statutory text
§ 10-6.7 Exercise by all donees; exceptions\n Whenever a power of appointment, other than a power in a trustee to\ninvade trust principal under section 10-6.6 of this article or under the\nterms of the dispositive instrument, is created in two or more donees,\nall must unite in its exercise, unless the instrument creating such\npower provides otherwise. But, if before its execution, one or more of\nsuch donees dies or becomes incompetent, such power may be exercised by\nthe survivor or the competent donee, unless such exercise is explicitly\nbarred by the terms of the instrument creating such power.\n
Status: in_force · Read it on the official government site
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